On January 1, 2012, Panda Company Purchased 16,000 of the 20,000

Multiple Choice

On January 1, 2012, Panda Company purchased 16,000 of the 20,000 outstanding common shares of Simian Company for $760,000. On January 1, 2016, Panda Company sold 2,000 of its shares of Simian Company on the open market for $90 per share. Simian Company's stockholders' equity on January 1, 2012, and January 1, 2016, was as follows: The difference between implied and book value is assigned to Simian Company's land. Assuming no other equity transactions, the amount of the difference between implied and book value that would be added to land on a workpaper for the preparation of consolidated statements on December 31, 2016, would be:

A) $120,000.
B) $115,000.
C) $105,000.
D) $84,000.